 | | CONTACT
Akuro House,
24, Campbell Street,
P. O. Box 7365 Marina - 101231
Lagos, Nigeria.
Tel: 234 1 2601160-2, 2601164-5
Fax: 2634409
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|  | | 2002
N'000 | 2001
N'000 | 2000
N'000 | 1999
N'000 | 1998
N'000 |
| ASSETS | | | | | |
| Cash and bank balances
| 20,005 | 8,657 | 9,788 | 16,100 | 19,497 |
| Short-term investments | 80,709 | 71,025 | 73,151 | 63,600 | 57,769 |
| Debtors and prepayment | 432,984 | 334,697 | 252,867
| 162,221 | 117,770 |
| Long-term investments
| 31,279 | 30,312 | 31,514 | 25,639 | 20,276 |
| Statutory deposit
| 22,500 | 22,500 | 22,500 | 22,500 | 22,500 |
| Fixed assets
| 92,785 | 23,720 | 20,276 | 22,765 | 22,098 |
| 680,262; | 490,911
| 410,096 | 410,096 | 312,825 | 262,410 |
| LIABILITIES | | | | | |
| Creditors and accruals | 132,209 | 90,056 | 74,836 | 44,926 | 40,404 |
| Reinsurance funds | 245,008 | 156,773 | 125,620 | 110,500 | 90,627 |
| | 377,217 | 246,829 | 200,456 | 155,426 | 131,031
|
| NET ASSETS | 303,045 | 209,640 | 200,456 | 157,399 | 131,379
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| CAPITAL AND RESERVES | | | | | |
| Paid-up share capital | 165,000 | 150,000 | 150,000 | 138,000 | 137,861 |
| Contingency reserve | 75,887 | 60,564 | 48,211 | 38,771 | 30,034
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| General reserve | 6,309 | 33,518 | 11,429 | (19,372) | (36,516) |
| Revaluation reserve | 55,849 | - | - | - | - |
| Shareholders’ fund | 303,045 | 244,082 | 209,640 | 157,399 | 131,379 |
| INCOME AND PROFIT
| | | | | |
| Gross underwriting premium | 571,220 | 398,296 | 320,442 | 280,821
| 227,634 |
| Profit/(loss) before taxation | 24,301 | 58,469 | 55,040 | 27,881
| ( 29,853) |
| Profit/(loss) after taxation | 22,958 | 49,442 | 54,554 | 25,881 | (31,350) |
| Transfer to contingency reserve | (15,323) | (12,353) | (8,753) | ( 8,737) | ( 6,687) |
| Proposed dividend | (19,800) | (15,000) | (15,000) | - | - |
| Transfer (from)/to general reserve | (12,165) | 22,089 | 30,801 | 17,144 | ( 38,037) |
| Per N1 share data (actual):
| | | | | |
| Earnings | N0.14 | N0.33 | N0.36 | N0.19 | N0.23 |
| Dividend | N0.12 | N0.12 | N0.10 | - | - |
| Net assets | N1.84 | N1.63 | N1.50 | N1.14 | N0.95 |
| Per N1 share data (adjusted):
| | | | | |
| Earnings | N0.14 | N0.30 | N0.33 | N0.16 | (N0.19) |
| Dividend | N0.12 | N0.09 | N0.10 | - | - |
| Net assets | N1.84 | N1.48 | N1.27 | N1.95 | N0.80 |
| NOTE:
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| Adjusted earnings per share and dividend per share are based on profit after taxation and on paid-up share capital as at 31 December 2002. |
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